Canadian REIT pays $71m for 161 Inverness

By Jill Jamieson-Nichols | Colorado Real Estate Journal
A Canadian real estate investment trust picked up a second trophy asset in Denver for $71 million.
Artis Real Estate Investment Trust bought 161 Inverness, a 256,767-square-foot Englewood office building that is 100 percent leased to digital TV provider DirecTV. DirecTV’s lease runs through 2025.
Artis REIT financed the deal with cash and was arranging financing
on it, according to Kirsty Stevens, Artis chief administrative officer.
The deal follows Artis Real Estate Trust’s recent $98 million acquisition of 1700 Broadway in downtown Denver. “We do like the Denver market, and we would consider other opportunities in that market if they fit our investment criteria,” Stevens said.